Zacks: Analysts Expect Raytheon (RTN) to Post $2.09 EPS

Analysts forecast that Raytheon (NYSE:RTN) will report earnings per share of $2.09 for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Raytheon’s earnings, with the lowest EPS estimate coming in at $2.00 and the highest estimate coming in at $2.22. Raytheon posted earnings of $1.73 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 20.8%. The firm is scheduled to report its next earnings report before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that Raytheon will report full year earnings of $9.69 per share for the current fiscal year, with EPS estimates ranging from $9.60 to $9.78. For the next financial year, analysts expect that the business will report earnings of $11.09 per share, with EPS estimates ranging from $10.75 to $11.34. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Raytheon.

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Raytheon (NYSE:RTN) last issued its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.01. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.81 billion. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 earnings per share.

Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Friday, April 6th. Morgan Stanley lowered their price objective on shares of Raytheon from $245.00 to $238.00 and set an “overweight” rating on the stock in a research report on Thursday. Cowen restated a “buy” rating and set a $215.00 price objective on shares of Raytheon in a research report on Friday, February 9th. Sanford C. Bernstein increased their price objective on shares of Raytheon from $231.00 to $255.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada set a $235.00 price objective on shares of Raytheon and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $219.36.

In other news, Chairman Thomas A. Kennedy sold 44,778 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $215.90, for a total value of $9,667,570.20. Following the completion of the sale, the chairman now directly owns 138,339 shares of the company’s stock, valued at $29,867,390.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Michael J. Wood sold 523 shares of the stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $214.30, for a total transaction of $112,078.90. Following the completion of the sale, the chief accounting officer now directly owns 15,773 shares of the company’s stock, valued at $3,380,153.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,866 shares of company stock valued at $22,730,714. Corporate insiders own 0.19% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in RTN. BlackRock Inc. increased its stake in shares of Raytheon by 6.2% in the fourth quarter. BlackRock Inc. now owns 21,240,939 shares of the aerospace company’s stock worth $3,990,111,000 after purchasing an additional 1,237,648 shares in the last quarter. Millennium Management LLC boosted its position in shares of Raytheon by 100.0% during the fourth quarter. Millennium Management LLC now owns 591,173 shares of the aerospace company’s stock worth $111,052,000 after acquiring an additional 295,616 shares during the last quarter. USS Investment Management Ltd boosted its position in shares of Raytheon by 26.5% during the fourth quarter. USS Investment Management Ltd now owns 1,345,404 shares of the aerospace company’s stock worth $252,781,000 after acquiring an additional 281,900 shares during the last quarter. Atlantic Trust Group LLC boosted its position in shares of Raytheon by 1,486.1% during the third quarter. Atlantic Trust Group LLC now owns 273,340 shares of the aerospace company’s stock worth $50,999,000 after acquiring an additional 256,106 shares during the last quarter. Finally, Patten Group Inc. boosted its position in shares of Raytheon by 1,773.9% during the third quarter. Patten Group Inc. now owns 235,835 shares of the aerospace company’s stock worth $2,367,000 after acquiring an additional 223,250 shares during the last quarter. 73.53% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE RTN traded up $3.32 during midday trading on Wednesday, hitting $225.33. The stock had a trading volume of 748,035 shares, compared to its average volume of 1,792,652. The company has a market cap of $64,051.21, a PE ratio of 29.50, a P/E/G ratio of 2.09 and a beta of 0.70. Raytheon has a 52 week low of $151.90 and a 52 week high of $225.86. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.54.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Wednesday, April 11th will be issued a dividend of $0.8675 per share. This is a boost from Raytheon’s previous quarterly dividend of $0.80. This represents a $3.47 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Tuesday, April 10th. Raytheon’s dividend payout ratio is currently 45.54%.

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Raytheon Company Profile

Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.

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